Selling a SaaS and transferring its assets can be smooth and simple – if you prepare.
Ayoub Moustaid, created Fastdok, an online document generator that helps professionals generate important documents like invoices and estimates in minutes. He quickly grew it to 3,000 customers with a lifetime subscription to the service. Like most lifetime subscriptions, this was great for customers but not for revenue. He nearly shut down Fastdok, but instead sold it on Acquire.com.
Unlike many, Ayoub has sold multiple businesses before. He realized how much of a hassle transferring a codebase can be. From the beginning, he made it a point to organize all of Fastdok’s digital assets before his sale so that when it actually happened he was able to move everything in 30 minutes.
Despite extensive preparation and a fast transfer in the end, Ayoub’s acquisition had a couple of hiccups. He accidentally misspelled his company name on the Asset Purchase Agreement, delaying escrow and his eventual buyer took two months off for a family emergency. Fortunately, everything worked out perfectly in the end.
Listen to Ayoub on Startup Acquisition Stories as he talks with Andrew about:
- How he knew it was time to sell Fastdok
- His experience in the first few days/weeks on Acquire.com
- How he vetted buyers
- Exactly what he did to make the Fastdok asset transfer fast and efficient (and mistakes made)
- Ayoub’s three top tips for founders who are thinking about selling.
Ayoub’s just getting started and you can follow him on Twitter and Linkedin to catch his next act: